The developments in the business models of biotechnology in the Central and Eastern European countries: The example of Estonia

1969 ◽  
Vol 17 (1) ◽  
Author(s):  
Margit Suurna
Keyword(s):  
Business Models ◽  
Developed Countries ◽  
Business Environment ◽  
European Countries ◽  
Current Debate ◽  
Eastern European ◽  
Current Article ◽  
Institutional Convergence ◽  
Eastern European Countries ◽  
The One

In light of the current debate on the validation of the prevalent business models and trends taking place in the field of biotechnology in developed countries (see here in particular Pisano versus Glick), it is relevant to explore whether, and if so in which form and circumstances, the set arguments hold up and could be complemented by the context prevalent in transition countries. As one of the main concerns for the long-term development in the area relies on Pisano's argument that the sector is moving towards greater fragmentation, the deep analysis of that becomes particularly important in an environment where the very same problems are somewhat rooted in the local policymaking context and business environment. A specific example can be drawn here from the Central and Eastern European countries (CEE). Derived from this, the aim of the current article is to trace the trends in biotechnology business models in one of the rather well-performing CEE countries: Estonia. The article argues that the developments in the business models in Estonia are led by two rather contrary directions, where on the one hand increasing specialization and fragmentation and on the other hand movements towards geographical and institutional convergence can be detected.

Sustainable business model in food and beverage industry – a case of Western and Central and Eastern European countries

2020 ◽  
Vol 122 (5) ◽  
pp. 1573-1592 ◽  
Author(s):  
Zhanna Belyaeva ◽  
Edyta Dorota Rudawska ◽  
Yana Lopatkova
Keyword(s):  
Eastern Europe ◽  
Business Models ◽  
European Countries ◽  
Eastern European ◽  
Content Type ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage ◽  
Western European ◽  
Eastern European Countries

PurposeThe presented study pinpoints transformation of business models of small and medium enterprises (SMEs) in the food and beverage sector depending on their sustainability strategy. This paper makes a novel contribution to understanding various instruments of sustainability implementation in SMEs’ business models operating in the food and beverage industry of well-developed Western European countries versus less-developed Central–Eastern European countries.Design/methodology/approachThe empirical basis is a survey of 770 European SMEs, of which 369 operate in Western European countries (including Great Britain, Germany and Spain) and 401 in Central and Eastern Europe (including Poland, Croatia and Russia). The nonparametric U Mann–Whitney test was used to examine the significance of the differences between the two groups of companies.FindingsThe study empirically confirmed that despite self-declared lack of skills and knowledge in managerial impacts of sustainability, it shapes business models of SME in both country groups in food and drink industry. At the same time, the motivation grounds for business models transformation toward sustainable models vary between mostly economic factors in Eastern Europe and social and cultural factors in Western Europe. The economic factor is formed due to smaller integration into social investments at the SME-level Eastern European countries, while Western European SMEs invest more in a variety of sustainability supporting instruments (R&D, new equipment).Originality/valueThis comparative study is the novel empirical research study on the implementation of sustainability into business models of food and beverage SMEs operating in two groups of Western and Central–Eastern European countries, which has not been previously observed in such a setting.

scholarly journals Public Finance Sectors Central and Eastern European Countries and in Developed Countries

2018 ◽  
Vol 18 (2) ◽  
pp. 31-48
Author(s):  
Renata Małkowska
Keyword(s):  
Public Finance ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Developed Countries ◽  
European Countries ◽  
Social Spending ◽  
Eastern European ◽  
The Public ◽  
Per Capita ◽  
Eastern European Countries

This paper analyses the interdependencies between state debt and the volume of the public sector’s expenditure, focusing particularly on pro-social spending. These phenomena have been studied in relative values (versus GDP) and in absolute values (per capita). This served as the grounds for an attempt to identify general directions of the public finance policies followed by countries in the Central and Eastern Europe and in selected highly developed countries.

scholarly journals Institutional competitiveness of Central and Eastern European countries and the inflow of foreign direct investments

Catallaxy ◽  
2020 ◽  
Vol 5 (2) ◽  
pp. 87-96
Author(s):  
Magdalena Owczarczuk
Keyword(s):  
Quality Assessment ◽  
Western Europe ◽  
Recipient Country ◽  
Developed Countries ◽  
European Countries ◽  
Foreign Direct Investments ◽  
Eastern European ◽  
Global Competitiveness ◽  
Per Capita ◽  
Eastern European Countries

Motivation: Central and Eastern European countries (CEE) in spite of a long period of European Union membership and integration with the developed economies of Western Europe are still on the path of convergence, i.e. pursuing the highly developed countries in terms of, among others, GDP per capita. Assuming that the FDI inflow carries numerous benefits for the economic growth of the recipient country, those economies still compete against one another for foreign capital. One of the factors that attracts FDI is high quality of institutional surrounding. Aim: assessment of institutional competitiveness of the selected CEE countries (Czech Republic, Estonia, Lithuania, Latvia, Poland, Slovakia, Slovenia, Hungary) as well as verification of the relationship between institutional competitiveness and the FDI inflow to the analyzed economies. Materials and methods: The article reviews positions obtained by the selected CEE countries in the ranking of competitiveness published by Global Economic Forum (Global Competitiveness Report). The analysis and assessment of CEE countries competitiveness focused around the institutional quality assessment. Quantitatively, the connection was revealed between competitiveness ranking in the field of institutions and FDI inflow per capita and FDI as % of GDP to the economies under consideration. Results: the analysis of the global competitiveness index (GCI) allows to notice that among the CEE countries, Estonia is characterized with the highest institutional competitiveness. The detailed analysis indicated that low social capital quality decreases institutional competitiveness in case of all analyzed economies. The conducted quantitative analysis of the potential link between the GCI?Pillar 1. Institutions index and the inflow of foreign direct investments to CEE countries indicates the positive correlation of those variables. Higher index values (institution quality assessment) corresponds to the higher FDI per capita level and FDI calculated as GDP percentage.

scholarly journals A model for analyzing the financial stability of banks in the VUCA-world conditions

2021 ◽  
Vol 16 (1) ◽  
pp. 182-194
Author(s):  
Svitlana Khalatur ◽  
Liudmyla Velychko ◽  
Olena Pavlenko ◽  
Oleksandr Karamushka ◽  
Mariia Huba
Keyword(s):  
Financial Stability ◽  
Business Environment ◽  
European Countries ◽  
Series Data ◽  
Regression Equations ◽  
Eastern European ◽  
Macroeconomic Indicators ◽  
Modern Business ◽  
Eastern European Countries ◽  
The Impact

VUСA is a chaotic and rapidly changing business environment that, based on the variability, uncertainty, complexity and ambiguity of the modern world, transforms the approach of banks to the analysis of financial stability. The aim of the paper is to improve tools for monitoring the impact of VUCA-world conditions on the financial stability of banks, namely a model for studying and analyzing the impact of the modern business space “VUCA” on the financial stability of the country's banks. To test the model, the method of constructing regression equations in multifactor regression analysis is used. For this study, data from some Eastern European countries (Ukraine, Belarus, Latvia, Lithuania, Moldova) were used, and time series data were used for 10 years from 2010 to 2019.Having considered the definition of “VUCA-world conditions”, the model of modern business space “VUCA” was developed when analyzing the activity of banks in the studied countries. Drivers, consequences, requirements and macroeconomic indicators of the countries’ activities in the VUСA-world conditions are determined. The VUCA-world conditions also consider the study of key macroeconomic indicators that allow building long-term relationships throughout the value chain. The analysis of the studied Eastern European countries showed that with the increase of factors of GDP growth, GNI per capita growth, research and development costs, foreign direct investment, and net inflow of 1%, the effective ratio of bank capital and assets also increases. The assessment, in contrast to the existing ones, makes it possible to consider the impact of the macroeconomic environment of banks on their financial stability.

scholarly journals Mean Reversion and Momentum in Central and Eastern European Countries – A Case Study on Poland and Romania

2018 ◽  
Vol 11 (1) ◽  
pp. 129
Author(s):  
Alina F. Klein ◽  
Rudolf F. Klein
Keyword(s):  
Stock Prices ◽  
Mean Reversion ◽  
Developed Countries ◽  
European Countries ◽  
Eastern European ◽  
Momentum Effect ◽  
Chinese Market ◽  
Developed Markets ◽  
Eastern European Countries ◽  
The Developed Countries

There is considerable evidence showing that both mean reversion and momentum exist in stock prices, especially in financially-developed countries. We analyze these phenomena for two Central and Eastern European countries with very different transitions from centrally-planned to market economies: Poland and Romania. Although Poland’s stock market cannot be considered well-developed, its capitalization increased from 3 percent of GDP in 1995 to about 30 percent in 2017, while Romania’s stayed under 6 percent of GDP in the 1990s and early 2000s, and only recently has increased to about 21 percent. Examining how mean reversion and momentum affect stock prices, we find very similar results for the two countries. The speed at which stocks converge back to their fundamentals (i.e., mean reversion) is much faster than that of the developed markets, with half-lives of just over 9 months for both countries (similar to the results obtained in the literature for the Chinese market, but much shorter than the 3-4 years for  the well-developed markets). We also find that the momentum effect lasts less than in the developed countries. Therefore, in most cases, strategies combining mean reversion and momentum generate abnormal excess returns only for holding periods of less than 12 months.

scholarly journals STRATEGY FOR MANAGING BANKING SYSTEMS IN CENTRAL AND EASTERN EUROPE COUNTRIES UNDER GLOBALIZATION

2021 ◽  
Vol 14 (27) ◽  
Author(s):  
Nenad Vunjak ◽  
Milan Radaković ◽  
Miloš Dragosavac
Keyword(s):  
Financial Crisis ◽  
Eastern Europe ◽  
Central And Eastern Europe ◽  
Developed Countries ◽  
Corporate Identity ◽  
Capital Adequacy ◽  
European Countries ◽  
Eastern European ◽  
The World ◽  
Eastern European Countries

The financial crisis has adversely affected all the countries of the world in the conditions of globalization with different intensity, no matter if it is higher or lower level of development and different economic structures. In the context of globalization in the countries in transition, the banking system was reformed, thus creating a new financial market. The International Monetary Fund has taken an active part in the transition process of Eastern European countries by providing advice and approving financial arrangements. Developed countries of the world have implemented measures of non-standard monetary policy to overcome the global financial crisis. In some parts of Central and Eastern Europe, in addition to the general corporate identity (bank name, abbreviated name, trademark and slogan of the bank), the countries also applied qualitative features of the bank's corporate identity (image, reputation and goodwill). As they enter the 21st century, banks in developed countries are increasingly emphasizing the corporate culture and style of business of the bank. In the practice of banks, the following performances are most often present: financial, marketing, performance management, employee performance, business philosophy, reputation and the image of the bank. The banks' performance analysis included 13 Central and Eastern European countries divided into three groups. Performance over the period 2008-2018 is analyzed, related to: share of total assets in GDP, share of total loans in GDP, share of total deposit in GDP and level of capital adequacy of Central and Eastern European countries. The analysis shows that the central banks of the countries of Central Europe are dominant, and that in certain performances they are approached by the banks of the countries of Eastern Europe (members of the European Union and the Western Balkans).

scholarly journals Institutional changes in the economies of Central and Eastern European countries and the situation of the labour market

Ekonomika ◽  
2009 ◽  
Vol 85 ◽  
pp. 45-56
Author(s):  
Andrzej Adamczyk
Keyword(s):  
Labour Market ◽  
Political Institutions ◽  
Initial Phase ◽  
Labour Force ◽  
Economic Reforms ◽  
European Countries ◽  
Eastern European ◽  
Eastern European Countries ◽  
The One ◽  
Economic Stabilization

The object of the article is to assess the influence of economic and political institutions on the situation of the labour market in Central and Eastern European countries. In the initial phase of transformation, the debate in these countries focused on economic stabilization. In recent years, the focus shifted towards institutional solutions of economic processes, including the situation of the labour market.The emphasis is put on the particularities of the countries undergoing transformation, in which profound changes in economic and political institutions are taking place due to the implementation of economic reforms, on the one hand, and the democratization process, on the other hand. Undoubtedly, the process of institutional change was occurring at varying pace in Central and Eastern European Countries as a result of various problems of respective labour markets.The analysis, based upon the data from 1995 to 2006, shows that the institutional structure has a great impact on the labour market. The existence of efficient and well-managed institutions help to reduce distortions in the allocation of the labour force as well as creating demand for labour.

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